The use of FIBC (Flexible Intermediate Bulk Container) has gained massive traction in the recent past, owing to its convenience and robustness when it comes to packaging. FIBC, also known as bulk bags or jumbo bags, is used in different industries, including chemical, food, pharmaceutical, among others.
The global FIBC market size is projected to hit US$5,278 million by 2022, growing at a CAGR of 5.33%. This growth is driven by the burgeoning demand for flexible packaging and the convenience that comes with it.
One of the major factors driving the growth of the FIBC market is the rising demand for packaged food. With an increasing number of people opting for processed and packaged food, the demand for FIBC to package this food is on the rise. In addition, the growth of e-commerce has also fueled the demand for FIBC as it comes in handy when transporting goods.
The chemical industry is the largest consumer of FIBC. Due to its robustness and the ability to protect hazardous substances, FIBC is a preferred choice when transporting chemicals. Similarly, the pharmaceutical industry also utilizes FIBC due to its ability to handle and protect sensitive products.
In terms of key players in the global FIBC market, there are numerous manufacturers spread across the world. Some of the major global manufacturers include Global-Pak, Flexi-tuff, Isbir, BAG Corp, Greif, Conitex Sonoco, Berry Plastics, AmeriGlobe, LC Packaging, RDA Bulk Packaging, Sackmaker, Langston, Taihua Group, Rishi FIBC, Halsted, Intertape Polymer, Lasheen Group, MiniBulk, Bulk Lift, Wellknit, Emmbi Industries, Dongxing, Yantai Haiwan, Kanpur Plastipack, Yixing Huafu, Changfeng Bulk, and Shenzhen Riversky.
Moving forward, the FIBC market is poised for continued growth as more manufacturers and industries adopt the use of flexible packaging. The rising demand for eco-friendly packaging options is another factor that is likely to drive the growth of the FIBC industry as more companies seek to reduce their carbon footprint.
The SWOT analysis of the FIBC (Flexible Intermediate Bulk Container) industry is as follows:
Strengths:
1. Growing demand for FIBC due to its cost-effectiveness and flexibility in the transportation of bulk cargo.
2. FIBC is a sustainable alternative to single-use packaging materials such as cardboard boxes or plastic bags.
3. FIBC can be customized to meet specific shipping and storing needs.
4. FIBC technology has advanced, and new materials and designs have led to increased safety and durability.
5. FIBC is suitable for various industries, including chemicals, food and beverage, pharmaceuticals, construction, agriculture, and mining.
Weaknesses:
1. Cost of customization and design can be high for small to medium-sized businesses.
2. FIBC has size limitations which may not be suitable for transporting very large or heavy goods.
3. FIBC can be susceptible to damage from punctures, tears, and UV light, reducing its lifespan.
4. FIBC requires special handling equipment for easy transportation.
Opportunities:
1. Growing global demand for customizable and sustainable packaging solutions.
2. Increased use of FIBC in emerging markets due to the growth of chemical and food industries.
3. Development of new materials, designs, and certifications that can improve FIBC's safety and durability.
4. Rapid industrialization in developing countries is driving demand for FIBC.
Threats:
1. Competition from alternative packaging solutions, such as metal and plastic drums.
2. Stringent regulations on hazardous material transportation pose a challenge to FIBC's growth.
3. Fluctuation of raw material prices for FIBC manufacturing.
4. Economic slowdown affecting FIBC demand.
Key players in global FIBC (Flexible Intermediate Bulk Container) market include:
Global-Pak
Flexi-tuff
Isbir
BAG Corp
Greif
Conitex Sonoco
Berry Plastics
AmeriGlobe
LC Packaging
RDA Bulk Packaging
Sackmaker
Langston
Taihua Group
Rishi FIBC
Halsted
Intertape Polymer
Lasheen Group
MiniBulk
Bulk Lift
Wellknit
Emmbi Industries
Dongxing
Yantai Haiwan
Kanpur Plastipack
Yixing Huafu
Changfeng Bulk
Shenzhen Riversky
Market segmentation, by product types:
Type A FIBCs
Type B FIBCs
Type C FIBCs
Type D FIBCs
Market segmentation, by applications:
Chemical Industry
Food Industry
Pharmaceutical Industry
Others
Summary:
Get latest Market Research Reports on FIBC (Flexible Intermediate Bulk Container). Industry analysis & Market Report on FIBC (Flexible Intermediate Bulk Container) is a syndicated market report, published as Global FIBC (Flexible Intermediate Bulk Container) Market Report 2018-2029. It is complete Research Study and Industry Analysis of FIBC (Flexible Intermediate Bulk Container) market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.